do you fall under homeland security somehow?Olly wrote:I hope the DoD does this. If they do then Homeland Security won't be far behind. I'd do it.
gila-river wrote:Great, now the cops want to install dishwashers to. Just do your job Red and stop encroaching on our rights to replace appliances. That is not the responsibility of police.:lol:
3geese4me wrote:So I see now that the DOD is offering/proposing a new 15 year retirement plan. Instead of your 50% pension you would get 37.5% of your top 3. I have to be honest, I'm kind of leaning towards taking it. I have 10 years in right now and if I retire as an E-6 that would be an approximate $1140 check every month. The money wouldn't really matter to me because I know I'll get a decent paying job with my finance degree. The extra $400 that I would get if I retired at 20 isn't really worth the ass pain that I put up with now. My finances are in order, no credit card debt and I have a years worth of expenses saved up in my savings account.
Would you do it if you were in my shoes? or am I being dumb and I should just suck it up and stick it out for 5 more years?
Redbeard wrote:do you fall under homeland security somehow?Olly wrote:I hope the DoD does this. If they do then Homeland Security won't be far behind. I'd do it.
hmm didn't know thatOlly wrote:Redbeard wrote:do you fall under homeland security somehow?Olly wrote:I hope the DoD does this. If they do then Homeland Security won't be far behind. I'd do it.
Yes, the Coast Guard is the only branch of the military not under the DoD.
gila-river wrote:Great, now the cops want to install dishwashers to. Just do your job Red and stop encroaching on our rights to replace appliances. That is not the responsibility of police.:lol:
3geese4me wrote:So I see now that the DOD is offering/proposing a new 15 year retirement plan. Instead of your 50% pension you would get 37.5% of your top 3. I have to be honest, I'm kind of leaning towards taking it. I have 10 years in right now and if I retire as an E-6 that would be an approximate $1140 check every month. The money wouldn't really matter to me because I know I'll get a decent paying job with my finance degree. The extra $400 that I would get if I retired at 20 isn't really worth the ass pain that I put up with now. My finances are in order, no credit card debt and I have a years worth of expenses saved up in my savings account.
Would you do it if you were in my shoes? or am I being dumb and I should just suck it up and stick it out for 5 more years?
RonE wrote:3geese4me wrote:So I see now that the DOD is offering/proposing a new 15 year retirement plan. Instead of your 50% pension you would get 37.5% of your top 3. I have to be honest, I'm kind of leaning towards taking it. I have 10 years in right now and if I retire as an E-6 that would be an approximate $1140 check every month. The money wouldn't really matter to me because I know I'll get a decent paying job with my finance degree. The extra $400 that I would get if I retired at 20 isn't really worth the ass pain that I put up with now. My finances are in order, no credit card debt and I have a years worth of expenses saved up in my savings account.
Would you do it if you were in my shoes? or am I being dumb and I should just suck it up and stick it out for 5 more years?
Sounds like you are in the Air Farce. What would be wrong with staying for twenty and retiring as an E-7 or E-8? The extra 400 is 35% more that what you would get at 15 years plus what ever promotional raises, longevity raises and cost of living raises. You also have to consider what the job market is at the time you plan on retiring and that cannot be determined that far in the future. Being in good financial shape now is a great advantage. You might consider starting a heavy duty savings/investment strategy now and hit it hard for the next 5 years and see where you are then. It seems that you are committed to at least the next five years. If you put only $300 per month in a coffee can, that is $18,000 in five years, who knows how much it would be invested safely with the interest re-invested or how much it would be if someone gave you some really good advice on where and how to invest your money.
Good luck with what ever you decide to do. It is refreshing to see someone planning ahead.
Bad17 wrote:3geese stick the 20. You are over the hump. Stick the 20 retire with full benefits. I am still in contact with some guys who did the 15 yr retirement years ago and they got fucked on insurance and retirement benefits. Suck it up stay the 20 and promote and retire and be merry. Thanks for your service
so your not in the militaryOlly wrote:Redbeard wrote:do you fall under homeland security somehow?Olly wrote:I hope the DoD does this. If they do then Homeland Security won't be far behind. I'd do it.
Yes, the Coast Guard is the only branch of the military not under the DoD.
3geese4me wrote: I would get out now, but I have devoted 10 years of my life to the military. That is too much to give without getting anything in return from the Air Force.
jehler wrote:so your not in the militaryOlly wrote:Redbeard wrote:do you fall under homeland security somehow?Olly wrote:I hope the DoD does this. If they do then Homeland Security won't be far behind. I'd do it.
Yes, the Coast Guard is the only branch of the military not under the DoD.
Bad17 wrote:They are DOT
3geese4me wrote:Bad17 wrote:3geese stick the 20. You are over the hump. Stick the 20 retire with full benefits. I am still in contact with some guys who did the 15 yr retirement years ago and they got fucked on insurance and retirement benefits. Suck it up stay the 20 and promote and retire and be merry. Thanks for your service
Thank you, this is also a fear of mine. Getting fucked on the money side of things, but I guess that is the gamble you take when something like this comes out. How did they get screwed on the money side if you don't mind me asking? If push came to shove, I could just jump on my wife's insurance and be covered that way. That doesn't bother me, but not getting my money does make me upset.
DeadEye_Dan wrote:3geese4me wrote:So I see now that the DOD is offering/proposing a new 15 year retirement plan. Instead of your 50% pension you would get 37.5% of your top 3. I have to be honest, I'm kind of leaning towards taking it. I have 10 years in right now and if I retire as an E-6 that would be an approximate $1140 check every month. The money wouldn't really matter to me because I know I'll get a decent paying job with my finance degree. The extra $400 that I would get if I retired at 20 isn't really worth the ass pain that I put up with now. My finances are in order, no credit card debt and I have a years worth of expenses saved up in my savings account.
Would you do it if you were in my shoes? or am I being dumb and I should just suck it up and stick it out for 5 more years?
No brainer.
If $1140 is 37.5% of your wage now, then it shouldn't be that hard to find a job in finance starting out with a $45-50k base and you'd still be able to put in 20+ there and you'd be shitting in the tall cotton by the time you're 60
NuffDaddy wrote:My plan....
Fuck off and accumulate as much debt as possible until I'm 50. Then work till I die.
jehler wrote:so your not in the militaryOlly wrote:Redbeard wrote:do you fall under homeland security somehow?Olly wrote:I hope the DoD does this. If they do then Homeland Security won't be far behind. I'd do it.
Yes, the Coast Guard is the only branch of the military not under the DoD.
Bad17 wrote:Sorry Olly didn't know they changed that.
RonE wrote:Bad17 wrote:Sorry Olly didn't know they changed that.
"They" didn't change it, our inspired leader did.
Tomkat wrote:NuffDaddy wrote:My plan....
Fuck off and accumulate as much debt as possible until I'm 50. Then work till I die.
At age 52 I am glad I don't have your plan. In a few years I will be debt free and the I can play until I die.
You are gonna hit 50 faster than you think.
Save your money.
3geese4me wrote:RonE wrote:3geese4me wrote:So I see now that the DOD is offering/proposing a new 15 year retirement plan. Instead of your 50% pension you would get 37.5% of your top 3. I have to be honest, I'm kind of leaning towards taking it. I have 10 years in right now and if I retire as an E-6 that would be an approximate $1140 check every month. The money wouldn't really matter to me because I know I'll get a decent paying job with my finance degree. The extra $400 that I would get if I retired at 20 isn't really worth the ass pain that I put up with now. My finances are in order, no credit card debt and I have a years worth of expenses saved up in my savings account.
Would you do it if you were in my shoes? or am I being dumb and I should just suck it up and stick it out for 5 more years?
Sounds like you are in the Air Farce. What would be wrong with staying for twenty and retiring as an E-7 or E-8? The extra 400 is 35% more that what you would get at 15 years plus what ever promotional raises, longevity raises and cost of living raises. You also have to consider what the job market is at the time you plan on retiring and that cannot be determined that far in the future. Being in good financial shape now is a great advantage. You might consider starting a heavy duty savings/investment strategy now and hit it hard for the next 5 years and see where you are then. It seems that you are committed to at least the next five years. If you put only $300 per month in a coffee can, that is $18,000 in five years, who knows how much it would be invested safely with the interest re-invested or how much it would be if someone gave you some really good advice on where and how to invest your money.
Good luck with what ever you decide to do. It is refreshing to see someone planning ahead.
I guess my big issue is that the Air Force is becoming quite the Charlie Foxtrot anymore. Ridiculous policies and the constant need for those wishing to advance to suck the dicks of those who write their performance report. I am not that type of guy, I am a "if you do a good job at work and stay out of trouble, you will get promoted" guy. I guess my issue also is that I see what I could be making in the civilian sector and I look at what I am making now. No question that I would be making more if I was a civilian. I would get out now, but I have devoted 10 years of my life to the military. That is too much to give without getting anything in return from the Air Force. So when I seen the 15 year retirement, it became quite sexy to me because I'm tired of the bs that I have to put up with on a daily basis. If I stuck it out for the remaining 9 years left, yeah I would make substantially more. But the stress and strain on my family life is not worth it in my opinion. I do have a decent retirement fund set up and it's doing surprisingly well. I do 10% of my take home pay goes to a retirement fund and another 10% goes into savings. They are also doing away with our COLA, and the longevity raises are getting to be quite weak to be honest. I just got my 10 year raise. After taxes, I seen a 50 dollar per paycheck increase. So it's not like I'm making substantially more money by staying in longer.
Bootlipkiller wrote: all the mallards I killed today had boners do to my epic calling.
Tomkat wrote:NuffDaddy wrote:My plan....
Fuck off and accumulate as much debt as possible until I'm 50. Then work till I die.
At age 52 I am glad I don't have your plan. In a few years I will be debt free and the I can play until I die.
You are gonna hit 50 faster than you think.
Save your money.
3legged_lab wrote:On the flipside, you'll most likely deal with some form of bs at any other job as well.
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